Sri Lanka will purchase 325 buses worth $21.2 million from Ashok Leyland Ltd. (ALL), official sources said. The decision was taken following Cabinet approval to a proposal submitted by Minister of Transport & Civil Aviation Arjuna Ranatunga, for the purchase of 272 high-back, 50-seater buses, and 33 buses that seat 53 persons, for the Sri Lanka Transport Board.
The purchase is to be made under a lease agreement, allowing Sri Lanka to pay the cost over a period of five years, said a release from Lanka Ashok Leyland, a joint venture company set up with the Government of Sri Lanka in the early 1980s.
Currently, over 42,000 Ashok Leyland buses are operated by the Sri Lanka Transport Board and private players in the island. The company holds over 95% of the market share in the passenger segment.
